Ironwood Investment Counsel LLC Grows Stake in Apple Inc. (AAPL)

Ironwood Investment Counsel LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,665 shares of the iPhone maker’s stock after buying an additional 466 shares during the period. Apple accounts for about 2.9% of Ironwood Investment Counsel LLC’s investment portfolio, making the stock its 6th biggest holding. Ironwood Investment Counsel LLC’s holdings in Apple were worth $6,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Trail Advisors LLC raised its holdings in shares of Apple by 17,669.4% during the first quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after buying an additional 20,067,124 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Apple by 1.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock valued at $3,290,212,000 after buying an additional 347,970 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Apple by 18,553.3% during the second quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock valued at $89,526,000 after buying an additional 16,668,866 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Apple by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock valued at $2,711,005,000 after buying an additional 55,050 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Apple by 0.4% during the first quarter. American Century Companies Inc. now owns 14,064,371 shares of the iPhone maker’s stock valued at $2,359,720,000 after buying an additional 60,860 shares during the last quarter. 58.44% of the stock is currently owned by institutional investors.

In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total transaction of $5,816,500.00. Following the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at approximately $24,554,471.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of Apple stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 544,185 shares of company stock worth $120,312,613. Corporate insiders own 0.06% of the company’s stock.

NASDAQ AAPL opened at $201.59 on Tuesday. Apple Inc. has a twelve month low of $150.24 and a twelve month high of $233.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12. The company has a market cap of $1,019.79 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.48 and a beta of 1.26.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.13. Apple had a net margin of 22.41% and a return on equity of 48.68%. The firm had revenue of $62.90 billion for the quarter, compared to analysts’ expectations of $61.55 billion. During the same period in the previous year, the company posted $2.07 EPS. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities analysts expect that Apple Inc. will post 13.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 12th will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, November 8th. Apple’s payout ratio is 24.52%.

A number of research analysts recently commented on AAPL shares. UBS Group started coverage on shares of Apple in a research note on Wednesday, September 12th. Maxim Group raised their price objective on shares of Apple to $221.00 and gave the company an “average” rating in a research note on Thursday, September 13th. Royal Bank of Canada raised their price objective on shares of Apple to $250.00 and gave the company an “average” rating in a research note on Wednesday, September 26th. Loop Capital raised their price objective on shares of Apple to $220.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, Macquarie set a $202.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $223.60.

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Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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